The Federal Accounting Standards Advisory Board (FASAB) is an independent organization based in Washington, DC, that provides guidance and sets accounting standards for the federal government. They are responsible for developing and maintaining accounting principles and standards for federal financial reporting.
FASAB works closely with various stakeholders, including government agencies, to ensure transparency and accountability in federal financial reporting. They conduct regular board meetings, release newsletters and news updates, and provide resources and training to support the implementation of accounting and reporting standards for non-federal entities.
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